Lummis Files Second Circuit Amicus Brief Pushing Back on SEC Overreach

January 28, 2025
WASHINGTON, D.C.– U.S. Senator Cynthia Lummis (R-WY) filed anamicus curiaebrief on Friday, January 24, 2025 inCoinbase v. Securities and Exchange Commissionin the U.S. Court of Appeals for the Second Circuit, pushing back on the failed legislation-by-enforcement strategy of the Securities and Exchange Commission (SEC) under former Chair Gary Gensler and the Biden Administration.
“The SEC’s approach under the Biden administration was to aggressively reinterpret case law governingHoweyand investment contracts, keep those interpretations secret, and then demand compliance from digital asset exchanges,”said Lummis.“Such an approach is un-American. It is the job of Congress to provide a legislative framework that clearly draws the line between a security and a commodity.”
A copy of the brief can be foundhere.
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